The Economic Landscape: Fundamental Trends Impacting

Business Opportunities in Florida

Dr. J. Antonio Villamil
Founder and Principal

International Office Summit
Hyatt Regency Coral Gables
May 4, 2015

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The Large Economic Landscape of Florida for Business Development
Florida:

GDP
Population

$800 (Billion)
20 (Million)

Pensacola MSA
Personal Income
Population

Jacksonville MSA

$18 (Bill.)
474 (Ths.)

Personal Income
Population

$60 (Bill.)
1.4 (Mill.)

Orlando MSA
Tampa MSA
Personal Income
Population

$116 (Bill.)
3.0 (Mill.)

Personal Income
Population

$84 (Bill.)
2.3 (Mill.)

South Florida MSA
Personal Income
Population

$264 (Bill.)
6.0 (Mill.)

Sources: US Census and Bureau of Economic Analysis.

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Florida’s Diverse and Growing Industries Offer Business Opportunities
for Foreign Companies
March 2014
Employment

March 2015
Employment

Total Payroll Employment, of which:

7,738,800

Professional and Business Services

Category

Change

% Change

8,022,900

+284,100

4.0%

1,145,400

1,195,000

+49,600

4.3%

Education and Health Services

1,144,600

1,192,200

+47,600

4.2%

Leisure and Hospitality

1,070,500

1,125,300

+54,800

5.1%

Retail Trade

1,031,700

1,068,600

+36,900

3.6%

Financial Activities

517,700

532,400

+14,700

3.0%

Construction

387,000

424,400

+37,400

10.0%

Wholesale Trade

324,600

335,000

+10,400

3.2%

Manufacturing

328,500

333,200

+4,700

1.4%

Faster Than
Average

Source: Florida Department of Economic Opportunities, Current Employment Statistics, March 2015 Employment Report.

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Market Opportunities for Florida-Based Businesses are Significant in Economies
with TPAs with the US
Population1
(Million)

GDP2
($ Billion)

Trade w/Florida3
($ Billion)

NAFTA (excluding U.S.)

155

$2,555

$6

Chile

18

$253

$7

52

$197

$22

31

$175

$4

Colombia

50

$333

$10

Panama

4

$38

$2

310

$3,551

$51

FTA Agreements

DR-CAFTA
Peru

Total

Current and Potential
Pacific Alliance Members

1/2014 data.
2/GDP based on 2013 data and at Constant Prices 2010.
3/2014 Trade data.
Sources: United Nations ECLAC, Economic Statistics, and Enterprise Florida, Inc.

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Megatrends Impacting the Americas Marketplace for Florida-Based Businesses
The Growing
Middle-Class

Knowledge-Intensive
Trade
(Technology)

Integration of
Production Function
Across Borders
The Changing
Latin America &
Caribbean
Marketplace
The Growth of
“Multi-Latinas”
(FDI)

Demographics:
“The Young & the
Restless”

The Modern
Entrepreneurs

Positioning your company’s products and services within the above trends will determine
the success of your Florida-based businesses
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Conclusions
 Florida offers targeted business opportunities for foreign
companies establishing a corporate base in the state
 Emphasis on knowledge-intensive products, hospitalityrelated services and in meeting demand for a growing
Florida population
 Integration of production function suggests potential
business profitability can be found along supply chain
across borders of North/South America, the Caribbean and
the rest of the global economy
 Emerging markets have grown in size, in the sophistication of production across
products and services, and in improving creditworthiness: positive for long-term
business development with a corporate Florida base
 Pacific Alliance and the TPP are expected to increase business opportunities for
Florida-based companies

Visit us at:
www.weg.com
Twitter: @tonyvillamil

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